tax advice?

sassyduell
sassyduell Registered Posts: 33 Regular contributor ⭐
Hi all
Where should income tax paid by a sole trader appear in their final accounts
thank you

Comments

  • Bluewednesday
    Bluewednesday Registered Posts: 1,624 Beyond epic contributor 🧙‍♂️
    It doesn't appear in their accounts as it's a personal rather than a business expense
  • sassyduell
    sassyduell Registered Posts: 33 Regular contributor ⭐
    Thanks
    does that mean if they have paid for the income tax out of their business account it should be treated as drawings?
  • deanshepherd
    deanshepherd Registered Posts: 1,809 Beyond epic contributor 🧙‍♂️
    Yes.
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